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EN
This article deals with present financial crisis as a result of credit expansion. Debt problem was mask with financial instrument innovations, namely structured bonds in securing form. By the help of this, instruments were walked around state of the regulatory body and postpone assignment of disequilibrium. A part of rating agency in this process is described. Special attention is paid to impact of financial crisis on financial market, especially on insurance business. The article calls attention on asymmetry information problem and possible influence and adequacy of regulatory attitudes on return to equilibrium level particularly in EU.
EN
This paper deals with the topic of the financial crisis evolving into a sovereign debt crisis. First of all, the economic and geopolitical impacts of the relatively new G20 forum are analysed. Most attention is given to the latest summit – the Toronto summit, where the discrepancies between the German and US attitude towards further economic development became obvious. The German way of fiscal consolidation was of course influenced by the Greek crisis and problems in other, so called PIGS countries. However, the cuts approach leads the sovereign states into another crisis: a crisis of political legitimacy.
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